#old age pension scheme

[jantanow]

राकेश मिश्र अध्यक्ष और पुष्पेन्द्र कुमार बने महामंत्री

दिलीप कुमार बस्ती रिपोर्टर – दिनांक 07 अगस्त 2024 को ब्लाक संसाधन केन्द्र कप्तानगंज के सभागार में अटेवा की एक गोष्टी आयोजित हुई जिसमें राकेश कुमार मिश्र अटेवा के ब्लाक अध्यक्ष व पुष्पेन्द्र कुमार को कप्तानगंज ब्लाक का महामंत्री नामित किया गया । NPS का मतलब नो पेंशन स्कीम -तौआब अली जिला संयोजक अटेवा गोष्ठी में उपस्थित शिक्षक व शिक्षिकाओं को संबोधित करते हुए अटेवा के तेजतर्रार जिला संयोजक तौआब अली…

[townpostin]

Ex-MP Dr. Ajoy Kumar's Jankalyan Rath Benefits Over 1200 People in Jamshedpur

Dr. Ajoy Kumar’s initiative brings welfare schemes to the doorsteps of Jamshedpur residents, helping them access various government benefits. The Jankalyan Rath (vehicle) was launched by former MP and senior Congress leader Dr. Ajoy Kumar on July 9 at Baridih Chowk. The purpose of this initiative is to provide information about state government welfare schemes and help residents avail these…

[ukrfeminism]

Women would need to work for an extra 19 years to retire with the same pension savings as men, according to data from the Pensions Policy Institute.

The research found women retiring at 67 – the new UK state pension age from 2026 – will have saved an average of £69,000, compared with £205,000 for men.

The data, published by the PPI and pensions provider Now: Pensions, suggests that under the current system, in order to close the “gender pension gap” a girl would need to start saving at three years old to retire with the same amount of money as working men.

Career gaps, caring responsibilities, childcare costs and lower earnings all contribute to the disparity.

As automatic enrolment into workplace pensions – where workers are put into a pension scheme into which they and their employer pay – starts at the age of 22, the 19-year gap meant that “by age three, girls are already falling behind boys in their provision for later life”, the researchers claimed.

However, women often live longer than men – on average by about seven years – meaning their retirement pots also need to last longer.

Now: Pensions is calling for the £10,000-a-year earnings threshold for people to be automatically enrolled into a workplace pension to be removed because it excludes many women who hold multiple jobs or work part-time or as freelancers.

The UK state pension age of 66 is set to rise to 67 between 2026 and 2028. From 2044, it is expected to rise to 68. However, research issued earlier this week suggested it would have to rise to 71 for those born after April 1970.

Separate industry figures issued on Wednesday indicated that the estimated amount of money needed to enjoy a “moderate” standard of living in retirement had jumped by £8,000 – or 34% – in a year as a result of the cost of living crisis and changes in behaviour.

The Pensions and Lifetime Savings Association has developed the “retirement living standards” to show what life in retirement looks like at three different levels – minimum, moderate and comfortable. Last year it said a single person needed about £12,800 a year to meet the minimum threshold but this year the figure has been put at £14,400.

The new threshold for a moderate standard of living in later life is £31,300 for a single person – up from £23,300 a year ago. To meet the comfortable threshold, the new figure is £43,100 a year for one person – up from £37,300.

The pension provider Scottish Widows said securing a guaranteed annual income of £23,300 for life would require a pension pot of about £500,000 – but securing an income of £31,300 would mean amassing a pension pot of more than £750,000.

The PLSA said its latest research “reflects the price rises that households have faced, particularly in food and energy use”, but also highlighted the increasing importance people placed on spending time with family and friends away from the home, as people’s priorities have changed after the coronavirus pandemic.

[electrosquash]

Every now and then there's a thread in the german redditsphere asking how people are preparing financially for old age. You'd expect a mix of ETF investment funds, company pension schemes, national old age pension (lol), Riester/Rürup Rente (lol), crypto (lol), mooching off your children (lol) and private savings. But instead the top voted comment is always suicide. And at least half the other comments are some variation of not living to old age. And i don't think any of those are meant ironically. None of the options listed above will be viable when we reach retirement age. This should be alarming.

[mwananchicreditbest]

Mwananchi Credit Highlights the Importance of Teaching Financial Literacy In Schools

How many times have we read numerous newspaper articles about children who squandered their inheritance money or how they trusted quick “get rich” schemes and was dubbed out of it? Again, how many times have we seen an employee who worked tirelessly for 30+ years and went on retirement, only to splurge away their pension pay-outs and suffer in their old age? Better yet, how many young people currently employed are living from paycheck to paycheck with debts overwhelming them, credit cards here, over-drafts there, revolving loans, the list is endless. The most common reason is that many heirs, pensioners or even the young workforce are simply inexperienced at handling money.

A million dollars can be put to so much good use. However, once it is spent recklessly, it can no longer produce income. Isn’t it amazing that we all completed high school knowing algebra, the scientific table, and the human anatomy, but not how to open a bank account, how to file a tax return, the importance of having funeral covers or even something as simple as budgeting and saving?

The current education system is slow to teach simple money management habits/techniques to children growing up. Most young people will graduate from universities or start new businesses with no financial foundation. As a society we lack basic financial literacy thus teaching financial literacy in schools is critical in passing on general wealth.

Financial attitudes and habits begin to mold at a very young age. It is extremely important to expose children to how to use money wisely and to smart financial decision making. School curriculum can range from budgeting and cash flows so that young people understand the concept of ‘money in, money out’ and how that will impact them in the long term.

Our young people need to know how loans work, how interests are charged on these loans and how it can impact their financial situation over the long run. Notwithstanding the above, the importance of retirement planning the power of putting a little bit of money away today and where that can land you in the future, are all critical. By teaching financial literacy in schools, we can change the narrative from poverty to debt-free lifestyle, from inheritance money being a “curse” to a gift.

Furthermore, we can pass on generational wealth by enabling our young people to make informed decisions. In this digital and social media era, we find that our young people take out a personal loans today just to finance a trip to Paris or California and only to realize that upon their return, they must start repaying this loan with a very high interest rate for four years. Just to take out another loan to offset that and find themselves in a pool of financial difficulty.

I know that many might argue that if you are a high school teenager, you most likely don’t have much money, you don’t have access to credit, you don’t have a job- so is there really any point in teaching such a youngster about savings, investing, taxes or budgeting? However, many of us were taught religious, moral education and life skills in school and that shaped us in many ways for life. We learned basic principles of respect, sharing, caring and discovering our identity. Another subject that was introduced in recent years was entrepreneurship because it uses developing real world skills that will help learners lead exceptional lives in a rapidly changing world by teaching children to think outside the box.

Many western countries have introduced Financial Literacy in their school curriculum examples of these countries are Australia, Canada, Denmark, Finland, Germany, Israel, the Netherlands, Norway and Sweden just to name a few.

Our current school curriculum equips children how to be great doctors and individuals with great business skills. Since the children of today are going to be the leaders of tomorrow, financial literacy will equip them with the skills they will need to become financially literate adults. In the end their future and that of our country Kenya is depending on it.

Mwananchi credit is the leading Microfinance company in Kenya providing log book loans and other secured emergency loans, Mwananchi Credit is at the forefront in championing for financial literacy good finance planning for individuals and SMEs.

Welcome to Mwananchi credit, Investor in people

PLEASE CALL 0709 147 000  SMS:’’LOAN’’ TO 23877 OR DIAL *684#

Article by Gitonga Muriithi, Head of Commercial, Mwananchi Credit

[guiltypleasurefandomface]

Okay...

I know this is controversial but bare with me.

When you think of old age pensioners you, like me, might think of little elderly people who walk hunched over on sticks, have false teeth and struggle to get money out of their purses because of their arthritic fingers.

Because that's what old age pensioners were when I was a kid. Everyone my grans age were like, proper old.

And... Setting aside the adjacent but not quite relevant point that these days a lot of elderly People are fittter and healthier than a lot of younger people, and don't automatically need more mobility aids than a young person with a chronic illness...

Keanu Reeves is old enough to live in an age-locked assisted housing flat. He is 2 years away from being eligible for a pre-pensioners bus pass in the Merseyside area.

Brian May, who still rocks it on stage during tours, sometimes like a man possessed by the soul of Jimi Hendrix, probably does have a national pensioners bus pass.

Him and Roger Taylor could technically go on Saga holidays if they so wanted.

Tom Hanks would be eligible for the free boiler scheme to stop him freezing to death in winter if lived in England.

Rod Stewart could get £200 in iceland vouchers over the year to make sure his cupboards are fully stocked in the cost of living crisis.

And I suppose my point is, being an old age pensioner isn't seen as sexy or attractive but people who are seen as attractive or sexy are now or nearly are old age pensioners. But that's not the image pensioners have...

But society basically says you get to 55 and then that's it, you're old and you need to start winding down on life now. 65? Oh dear better sit down before your bones crumple into a heap whilst I make you a cup of tea. Here's a woollen blanket and here's your fall alarm...

You wouldn't say any of that to Tom Jones, would you? You wouldn't say that to Roger Daltry or Alice Cooper.

[thechangeling]

Ok maybe I'm just sleep-deprived but all this build up in sobh plus kit's childhood trauma and the whole watson thing is making me think that kit's going to have a moriarty moment

Bc like moriarty is a criminal mastermind who is described by sherlock(?I think?) to be "the organiser of half that is evil and of nearly all that is undetected in this great city". Essentially he's saying that moriarty gets away with his schemes because he goes undetected. Rook taught kit from a young age to be undetected, plus jessa wants kit to lay low and not have a bunch of attention on him. Here's another quote connecting to how both kit and moriarty go unnoticed, "But so aloof is he from general suspicion, so immune from criticism, so admirable in his management and self-effacement, that for those very words that you have uttered he could hale you to a court and emerge with your year's pension as a solatium for his wounded character"

And as far as we know, ty and kit are going in twp still stuck in that fight with residing anger still inside because they never got closure. And since the fae are probably the bad guys in the series as well, if kit decides to stand with them it could cause him and ty to be on opposing sides. And then we can match the dynamic to that of sherlock and moriarty

Also, kit is very smart. He taught himself everything from old textbooks or just books in general from the age of ten, not to mention how observant he is naturally. I think cc is really setting this up to plot twist that kit isn't a watson but a moriarty

Ignore my rambling my brain just will not shut up-

Ok this is really interesting and I would personally love an enemies/opposing teams plotline for kitty. Very Faith and Buffy circa season 3 of btvs.

However, I would argue that CC'S writing is pretty formulaic. It's not necessarily a bad thing. Love a good pattern. But it means I don't see her making one of the main characters into a villian. Sure Grace is pretty morally gray but she was never really presented as one of the good guys or a part of the group like Kit. And yes you could argue that Kit's only real connection to the LA squad was Livvy and Ty and now Livvy's dead and he and Ty are on the outs. But he is shown to be connected to other "good guys" like Tessa and Jem and shown to be still close with Dru.

Also, Kit doesn't really have much connection to his faerie side. The only faerie he is even remotely close to is Kieran. Whereas he has plenty of shadowhunters and non fae he's close to. It doesn't really make sense that he would side with the fae.

Finally. CC usually has a pretty black and white morality style for her books. Yes their are morally gray characters but the main villians are usually 100% evil. Think of the cohort and how their bigotry is always presented as completely obvious and blatent, which yes it can be. But it can also be sneaky and subtle ie microaggressions. Anyways my point is I doubt she would place a beloved good guy character on the side of the villians and place him up against the other mains.

I mean I wish she would, but I don't think it's happening.

[loathsomebrian]

Except that isn't how they work because again and again governments and corps sell or undermine pension schemes, so the poor have no protections come old age and the rich get richer. When I got old of I don't have a passive income from my publishing or _some other job_ I'll probably just kill myself. Which fucking sucks. Fuck, I'm one dibilitating illness away from that anyway. We're all fucked. Nothing fucking matters.

Pensions sound so fake as a zillennial. You work for one place for decades (already sounds fake) and then afterwards you leave and they just. keep paying you. the same amount of money. to do nothing. for the rest of your life. if i wasn't already aware that this was something that readily and commonly existed during my grandparent's days then it would sound like some kind of socialist pipe dream

[thellawtoknow]

Contributory Pensions: Concept and Importance

Definition and Mechanism of Contributory Pensions Definition: The Core Principle The Mechanism of Contributory Pensions1. Accumulation Stage 2. Fund Management Stage 3. Distribution Stage Variations in Structure and RegulationMandatory vs. Voluntary Contributions Tax Advantages Employer Incentives An Example of Contributory Pensions in Practice Advantages of Contributory Pension Schemes Challenges and Criticisms The Role of Governments and Policy Interventions Future Perspectives Conclusion The Concept and Importance of Contributory Pensions A contributory pension scheme represents a structured approach to retirement savings, wherein both employees and employers (or individuals alone) make regular financial contributions to a pension fund throughout the employee's working life. This essay explores the concept, advantages, and challenges associated with contributory pensions, emphasizing their role in securing financial stability in old age and fostering economic resilience.

Definition and Mechanism of Contributory Pensions Contributory pension systems are structured financial arrangements designed to provide individuals with a stable income post-retirement. These systems are characterized by the requirement that participants actively contribute to their pension funds during their working years. This section delves deeper into the principles, operations, and variations in contributory pension systems to explain how they function and why they are an integral part of retirement planning. Definition: The Core Principle At its core, a contributory pension system is based on the principle of shared responsibility between individuals and, often, their employers or the government. Participants allocate a portion of their current earnings to a pension fund, which is typically managed by professional entities or government agencies. This fund is designed to grow over time through regular contributions, compound interest, and investment returns. Upon reaching retirement age, participants access these savings in the form of regular payments (annuities) or lump sums, providing financial security when they are no longer earning a regular income. The Mechanism of Contributory Pensions The operation of contributory pension systems can be divided into three primary stages: accumulation, management, and distribution. 1. Accumulation Stage During the working years, participants regularly contribute to their pension fund. Contributions are usually deducted directly from an employee’s salary, ensuring consistency and minimizing default risks. The specifics of the accumulation process include: - Employee Contributions: A fixed percentage of the individual’s earnings is allocated to the pension fund. For instance, an employee may contribute 5-10% of their gross salary. - Employer Contributions: In many contributory systems, employers match or supplement employee contributions, doubling the rate of accumulation. This not only incentivizes employee participation but also builds a larger retirement corpus. - Self-Employment Contributions: For self-employed individuals, contributions are voluntary or mandated by regulatory authorities. These individuals bear the sole responsibility for contributing to their pension fund. Contributions are often tax-advantaged, meaning they are deducted from pre-tax income or are eligible for tax rebates, further incentivizing savings. 2. Fund Management Stage Once contributions are made, they are pooled into a pension fund managed by professionals or regulatory entities. The effectiveness of this stage determines the long-term viability and growth of the fund. Key aspects of fund management include: - Investment Diversification: Pension funds are invested in a mix of financial instruments, such as stocks, bonds, real estate, and government securities. The aim is to balance risk while ensuring steady growth. - Compound Interest Growth: Contributions benefit from compound interest over time, significantly amplifying the fund's value as the years progress. - Risk Mitigation: To minimize risks, fund managers often adhere to strict guidelines, such as capping exposure to high-risk investments or ensuring a balanced portfolio. - Government Oversight: In most jurisdictions, regulatory frameworks ensure transparency, accountability, and security in the management of pension funds, protecting participants’ interests. 3. Distribution Stage Upon reaching the specified retirement age, participants begin to receive benefits. The method of disbursal varies depending on the system’s structure and the individual’s preferences: - Annuities: Regular monthly or yearly payments that continue for the remainder of the retiree’s life. Some plans offer inflation-adjusted annuities to maintain purchasing power. - Lump-Sum Payments: In some systems, retirees can opt to withdraw their entire savings at once, often for large expenditures or investments. - Hybrid Models: A combination of lump-sum withdrawals and regular annuities to balance immediate needs with long-term income security. Variations in Structure and Regulation Contributory pension systems are not uniform and are adapted to suit the economic, cultural, and regulatory contexts of different regions. Common features and variations include: Mandatory vs. Voluntary Contributions - Mandatory Systems: In many countries, participation in contributory pension schemes is legally required for employees and employers. This ensures universal coverage and reduces the risk of old-age poverty. - Voluntary Systems: Self-employed individuals or workers in informal sectors often contribute voluntarily. Governments may encourage participation by offering incentives, such as tax deductions or co-contributions. Tax Advantages Tax policies play a critical role in contributory pension schemes. Contributions are often tax-deductible, reducing the individual’s taxable income. Similarly, the growth within the pension fund is typically exempt from capital gains tax, and in some cases, payouts are taxed at a reduced rate or exempt entirely. Employer Incentives Governments often incentivize employers to contribute to pension funds by offering subsidies or tax breaks. For example, employers who participate in pension programs may receive reduced payroll taxes or other financial benefits. An Example of Contributory Pensions in Practice Consider a contributory pension system where: - An employee contributes 5% of their monthly salary. - The employer matches this contribution with an additional 5%. - The pension fund invests in diversified assets that yield an annual return of 6%. Over a 30-year career with consistent contributions and compound interest, the accumulated fund can grow significantly, ensuring a comfortable retirement income. This model demonstrates the cumulative power of joint contributions, disciplined savings, and professional fund management. The definition and mechanism of contributory pension systems embody a partnership between individuals, employers, and governments to secure financial stability in retirement. By pooling contributions, leveraging investment growth, and adhering to regulatory standards, these systems transform small, consistent savings into substantial retirement funds. Their adaptability across jurisdictions underscores their importance as a cornerstone of modern financial planning, balancing individual responsibility with collective support. Advantages of Contributory Pension Schemes - Financial Security in Old Age A contributory pension ensures that individuals have a reliable source of income after retiring from active employment. This reduces dependence on family members or state welfare systems, fostering dignity and self-reliance. - Encouragement of Savings Culture By requiring regular contributions, these schemes inculcate a culture of long-term financial planning. This disciplined saving mechanism benefits individuals by ensuring financial stability even in unforeseen circumstances. - Employer-Employee Relationship Employers who match employee contributions often cultivate stronger relationships with their workforce. Such benefits enhance job satisfaction and employee loyalty, fostering a productive work environment. - Economic Stability On a macroeconomic scale, contributory pension funds serve as significant pools of capital for investment. Managed prudently, these funds can finance infrastructure projects, stabilize financial markets, and spur economic growth. - Inflation Adjustment Many modern contributory pension plans are designed to adjust payouts to reflect inflation, ensuring that retirees maintain their purchasing power over time. Challenges and Criticisms Despite their many advantages, contributory pension schemes face several challenges: - Affordability and Coverage Low-income workers or those in informal employment sectors often struggle to contribute regularly, leading to inadequate retirement savings. This issue underscores the need for inclusive policies and flexible contribution structures. - Investment Risks Pension funds are typically invested in financial markets, making them vulnerable to market volatility. Economic downturns or mismanagement of funds can jeopardize retirees' savings. - Longevity Risks As life expectancy increases globally, pension funds must support retirees for longer periods. This places additional pressure on fund sustainability and necessitates regular adjustments to contribution rates and payout structures. - Employer Non-Compliance In some cases, employers may fail to remit their share of contributions, especially in countries with weak regulatory oversight. Such practices can compromise the effectiveness of contributory pension schemes. - Transition Challenges In nations transitioning from non-contributory to contributory pension systems, individuals nearing retirement may not have sufficient time to accumulate adequate savings, necessitating supplementary measures. The Role of Governments and Policy Interventions Governments play a pivotal role in ensuring the success of contributory pension systems. Key interventions include: - Regulation and Oversight: Establishing robust regulatory frameworks to monitor fund management, prevent fraud, and ensure transparency. - Incentives: Providing tax breaks or subsidies to encourage participation, particularly among low-income earners. - Public Education: Enhancing awareness about the benefits of contributory pensions to promote enrollment and understanding. - Support for Informal Sectors: Creating tailored solutions to extend pension benefits to informal workers and marginalized groups. Future Perspectives The demographic shifts toward aging populations in many parts of the world underscore the increasing importance of contributory pensions. Innovations in digital finance and artificial intelligence offer promising avenues for improving fund management, increasing accessibility, and personalizing pension plans to meet diverse needs. Moreover, the integration of sustainable investment principles into pension fund management can align financial goals with broader societal objectives, such as combating climate change and promoting social equity. Conclusion Contributory pension schemes are an indispensable tool for securing financial stability and promoting economic well-being, both at the individual and societal levels. While challenges such as coverage gaps and investment risks persist, strategic interventions by governments, coupled with technological innovations, can enhance the inclusivity and sustainability of these systems. By fostering a culture of shared responsibility and disciplined saving, contributory pensions not only protect individuals in their twilight years but also contribute to broader economic resilience. Read the full article

[jaagrukbharat]

NPS Vatsalya Scheme: Full Details, Calculator, Tax Benfits, Interest Rate

The National Pension System (NPS) is a government-initiated retirement saving scheme that helps people save for their old age. This govt scheme has a unique addition named NPS Vatsalya offering more advantages and aid to the beneficiaries. If you are considering joining it, then this article will explain NPS Vatsalya Scheme Eligibility, NPS Vatsalya Benefits, and NPS Vatsalya Interest Rate in detail.

[sarkariyojnaalerts]

Jan Suchna Portal Rajasthan 2024: Complete Guide to Govt Schemes

The Jan Suchna Portal Rajasthan is a government initiative to provide transparent and quick access to information on various state and central schemes. It is designed to help citizens easily find details about eligibility, required documents, and application processes for numerous welfare programs in Rajasthan.

Key Features:

Easy Access: Find information on 100+ government schemes in one place.

Check Eligibility: Quickly verify if you qualify for specific schemes.

Document Requirements: Get a list of necessary documents before applying.

How to Use the Jan Suchna Portal?

Visit jansoochna.rajasthan.gov.in.

Choose the scheme you want to learn about.

Enter the necessary details to check eligibility.

Top Schemes Available:

Mukhyamantri Kanya Utthan Yojana: Financial help for girls' education.

Old Age Pension Scheme: Monthly pension for senior citizens.

Bhamashah Health Insurance: Health coverage for BPL families.

The Jan Suchna Portal makes it easy for residents to stay informed and access government benefits without any hassle. For more updates, visit jan suchna.

[townpostin]

321 Pension Approval Certificates Distributed in Jamshedpur

Senior Citizen Pension Certificates Distributed at Baridih Assembly Office Under the directives of Jamshedpur East MLA Saryu Roy, 321 approval certificates for the Chief Minister’s State Old Age Pension Scheme were distributed at the Baridih Assembly office on Sunday. JAMSHEDPUR – On Sunday, 321 approval certificates for the Chief Minister’s State Old Age Pension Scheme were distributed at the…

[thetimesnews-live]

How a Dallas Hedge Fund Manager Got Caught Up in a World of Fraud

How Barrett Wissman went from running a lawn-care company to orchestrating a $100 million scheme that has him standing in the cross hairs of the SEC.

On March 19, 2009, the New York Office of the Attorney General and the Securities and Exchange Commission in Washington, D.C., dropped two bombshells on the secretive world of high finance. For two years, the agencies had run a coordinated investigation into how New York’s comptroller picked investments for the state’s $150 billion pension fund. On that Thursday, the New York AG released a 123-count indictment of two men who worked for disgraced former comptroller Alan Hevesi. The charges included securities fraud, bribery, and money laundering. The SEC complaint mirrored the AG’s charges, saying that Hank Morris, the top political strategist and chief fundraiser for Hevesi, and David Loglisci, the top investment officer of the pension fund, orchestrated a scheme that netted the men and other Hevesi associates tens of millions of dollars in kickbacks from firms that invested the pension fund’s money.

News of the charges rocked Wall Street. But as the shock waves rippled across the country, they especially rattled an office on the 40th floor of Thanksgiving Tower in downtown Dallas. That’s where a central figure in the scheme worked—though the court filings, curiously, didn’t mention him by name. The AG’s indictment called him “John Doe 1.” The SEC went with its own cryptic nomenclature, referring to him as “Individual A.”

Who was he? And why wasn’t he identified? Officials weren’t talking, so the second question was anyone’s guess. Perhaps the mystery man had struck a deal with prosecutors. In exchange for his cooperation, maybe they had agreed not to name him. But the first question was easy to answer. There were enough clues in the filings to figure it out, which made the man’s “anonymity” even more puzzling.

The SEC complaint, for instance, mentioned that Individual A had invested at least $100,000 to market and distribute a comedy called Chooch that was produced by David Loglisci and his brothers. The low-budget movie is a story unto itself, but suffice to say it features Mexican prostitutes, a 9-pound dachshund named Kiwi Limone, and a slapstick donkey-riding scene. The SEC also said Individual A was a Loglisci family friend.

A few pages after the Chooch details—as if to say, “If you still haven’t figured it out, then here’s the giveaway”—the SEC complaint revealed that Individual A was associated with HFV Management, a hedge fund firm. The SEC alleged that Individual A paid a total of $600,000 in kickbacks to land $100 million worth of investments from the New York state pension fund. (Such investments would generate substantial fees for the firm that managed them.) Even better, the SEC alleged that once Individual A saw how the scheme worked, he wanted in on it. For a cut of the action, he funneled kickbacks from other investment managers to Loglisci and Morris.

There was only one man who was both a friend of Loglisci’s and also associated with HFV—aka Hunt Financial Ventures, the eponymous firm of Clark Hunt, located on the 40th floor of Thanksgiving Tower in the same suite where his father, Lamar Hunt, once ran his sports and business empire. That man was 46-year-old Barrett Wissman.

And who is Barrett Wissman, exactly, besides a central figure in an ever-expanding investigation that has led to more than 100 subpoenas being issued to investment firms across the country, that has embroiled no less than the Treasury Department’s Steven Rattner, and that has raised serious questions about how billions of dollars in state pension funds from New York to California are managed? It depends on whom you ask. Wissman, through his lawyer’s PR man, declined an interview request. But his rabbi says he’s a great guy. His godmother, on the other hand, says he’s a liar and a cheat.

In the mid-’90s, money was pouring into that Thanksgiving Tower office. On one side was the Hunt Sports Group, decorated with a signed Joe Montana Kansas City Chiefs jersey and other memorabilia related to its sports holdings. But the real action was on the other end of the office, where work of a decidedly less public nature was under way. That’s where Clark Hunt and his partner Barrett Wissman operated HW Finance and an associated thicket of offshore trusts and other financial vehicles (“HW” came from their last names).

Word around the office was that Wissman had gone to Yale and worked for a couple of years in international finance for Lazard Freres in New York City. Then his father had died, and he’d moved back to Dallas, just two years out of college, to assume control of the family’s chemical company, which he eventually sold. Some said he’d pocketed as much as $80 million. With that success, he’d persuaded Hunt, a friend from St. Mark’s, to launch an offshore fund called Infinity Investors with him.

Wissman’s aunt and godmother laughs at the notion. The family’s chemical company? It was called Athena Products. In addition to Veripretty tablecloths and Pretty Please housewares, it made lawn-care products under the brand name Carl Pool. It’s unclear when it was sold, but records indicate that in 1995 the company had just 30 employees and did only $2.5 million in sales. Wissman’s aunt says the family business didn’t make him wealthy. Far from it.

“I lent him money to keep Carl Pool out of bankruptcy,” says 78-year-old Rachelle, who asked that her last name not be used. “When I asked to be paid back, he claimed the money was a gift.”

In 1990, a Bexar County court ruled that Wissman had forged his aunt’s signature to defraud her of $96,250. “He was stupid enough to forge my signature on stationery that was not printed until two months after I supposedly wrote the letter on that stationery,” Rachelle says. Wissman was ordered to pay $233,919, which included awards for punitive damages and mental anguish. Rachelle says that in 1997, years after her godson had gone into business with Hunt, she was still trying to get him to pay up.

“You know, I haven’t spoken to his mother in years,” Rachelle says. “He basically tore the family to pieces. And prior to this, we were a very close-knit family. I would like to see him get his comeuppance. He took years out of my life in litigation that could have been avoided if he’d just done the right thing. There was something that made him feel that he was better than everybody else, smarter, more talented.”

A business associate who worked closely with Wissman in the Hunt office agrees with the assessment: ���Barrett made me feel like he thought, ‘There’s me. And then there’s people like you. But I understand that, and you understand that, so we’re cool.’ ”

The associate tells a curious story about how Wissman once repaid a debt. The associate would rather not say exactly what he was owed, but when he hounded Wissman for the money, a partial payment finally showed up in an overnight package from a lawyer in London. Hundred-dollar bills were taped inside a magazine. “I can’t remember if it was Der Spiegel or what,” the associate says. “It wasn’t like it was sloppily taped in there. It was professionally done. The bills were taped throughout the magazine.”

This was the man who in 2005 secured the first of two $50 million investments from New York state’s pension fund. On the one hand, Wissman doesn’t present the picture of someone to whom such a sum ought to be entrusted. His previous Infinity fund had been burned so badly—losing bets on Russian bonds right before the 1998 “Ruble Crises,” then on a series of Internet companies right before that bubble burst—that the name HW Finance had to be shed like dead skin. The firm adopted the new name HFV. No “W” anywhere in it.

On the other hand, Wissman has an air about him. In 2001, he married an exotic Russian cellist named Nina Kotova, who worked for a time as a model. He’s also an accomplished pianist with a master’s degree in music from SMU. In 2003, he bought the talent agency IMG Artists, which represents performers from violinist Itzhak Perlman to dance troupe Pilobolus. He speaks six languages and has launched a series of music festivals around the world.

More important, though, he knows people. People like Steven Loglisci, brother of David Loglisci, the indicted top investment adviser with New York state’s pension fund. Steven was the New York director of Ross Perot’s 1992 presidential campaign, for which Wissman volunteered. In 1998, Steven served as New Jersey Senator Robert Torricelli’s financial adviser at Bear Stearns, until Wissman persuaded him to take over a struggling Internet company called e.Volve, which the senator then invested in—right before Wissman’s eVentures bought e.Volve, giving the senator a huge immediate paper gain on his investment. Torricelli later had to abandon a re-election bid over an unrelated ethics scandal. A third Loglisci brother, Nicholas, ran a computer networking company whose board included not only Wissman but also Torricelli’s ex-wife and his girlfriend.

It’s a complicated mess. Determining where the various conflicts of interest lie will take months, if not years. But Wissman appears to be helping prosecutors figure it out. In April, he pleaded guilty to a felony securities fraud and agreed to pay $12 million in penalties and is said to be cooperating in the investigation. HFV Management and HFV Asset Management agreed to pay a $150,000 penalty without admitting or denying wrongdoing.

Some people who’ve known Wissman for years are left scratching their heads. Rabbi Jack Bemporad, who officiated at Wissman’s wedding and now is a professor at the Vatican’s Angelicum University in Rome, says, “The person that I’ve known for 20 years has always been kind and generous. All I know is what I read in the paper. I find it absolutely astonishing. It’s just not the person I know.”

Scurry Johnson, who knows Wissman from St. Mark’s and runs a Dallas venture capital firm, says, “In my mind, he was never a thoroughly knowledgeable investment banker or hedge fund manager himself. So he may have been in the middle of a bunch of people who were more financially devious. Or I don’t know what the words are.”

But up on the 40th floor of Thanksgiving Tower, Clark Hunt has apparently made up his mind. After Wissman’s guilty plea, Hunt ordered the golden “HFV” initials taken down from the wooden front door. A few days later, when building maintenance workers still hadn’t removed the letters, Hunt let his displeasure be known. So the office manager went out there himself with a chisel and scraped them off. Then he covered the ugly spot on the door with brown shoe polish.

[sonalj]

How to Check Old-Age Pension Status: Step-by-Step Guide For smooth old-age pension management, check eligibility, submit documents, monitor balances, and consult a tax professional for benefits.

Old-age pension is a vital government-sponsored program financially supporting senior citizens who have retired from active employment. This pension plan ensures that the elderly have a steady source of income to cover their basic needs, such as medical care, thereby enhancing their overall quality of life and financial security. Understanding how to check old-age pension status and also how to check old age pension status online of your old-age pension application is crucial for beneficiaries to stay informed about their financial assistance.

What is Old-Age Pension? A base of government-sponsored welfare initiatives is precisely crafted to extend crucial financial lifelines to senior citizens who have gracefully retired from the time of active employment. By offering a steady income stream, this pension scheme profoundly impacts the lives of elderly individuals, ensuring they can sustainably cover their basic necessities, encompassing not only essential maintenance like food but also requirements such as secure shelter and access to vital medical care.

In essence, the old-age pension program serves as a pillar of social support, ensuring the overall well-being and financial stability of our elderly, reflecting a deep commitment to unity across generations.

How to Check Old-Age Pension Status Online Checking old-age pension status online offers convenience and accessibility. Let us explore how you can easily monitor the progress of your pension application or review your current status with just a few clicks.

Government Pension Portals Visit the Official Portal: Go to the official government pension website to check old-age pension status online. Login or Register: If you already have an account, log in using your credentials. If not, you must register by providing your details, such as name, date of birth, and identification number. Locate the Pension Status Section: Once you have logged in to check your old-age pension status, look for a section labeled ‘Pension Status’ or something similar. Enter Required Information: You might need to enter your application reference number or other personal details to retrieve your status and check your old-age pension status online. View Status: After submitting the required information, your current pension status will be displayed on the screen. This status will inform you whether your application is under review or approved or if additional information is needed.